Author: Press Room

Boeing’s history with Nasa’s space programme stretches back to the Apollo missions of the 1960s that cemented US dominance among the stars. Now, a shifting competitive landscape and a black eye from stranding two astronauts at the International Space Station are raising a once-unthinkable question: should the company exit the business? Nasa officials announced last month that astronauts Barry “Butch” Wilmore and Sunita “Suni” Williams would be returning to Earth aboard a SpaceX spacecraft next year rather than the Boeing CST-100 Starliner that carried them to the space station in June, their planned eight-day mission lengthening to eight months.Nasa administrator…

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The IRS is asking for comments about a new way to save for retirement. The super-charged saver’s match builds on the existing saver’s credit and has been described as “an important opportunity to improve the long-term financial security for millions of low- to moderate-income Americans.” Under the plan, beginning in 2027, qualifying individuals making annual contributions of up to $2,000 to certain retirement plans will be eligible to receive up to $1,000 in a saver’s match contribution from the Treasury each year. The Saver’s Match is made possible by the SECURE 2.0 Act of 2022. Background SECURE 2.0 Act is…

Mortgage rates are down again this week, but remain too high to spark any significant movement in the housing market as the affordability crisis remains set in. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.35% this week from 6.46% last week. The average rate on a 30-year loan was 7.18% a year ago. “Mortgage rates fell again this week due to expectations of a Fed rate cut,” said Sam Khater, Freddie Mac’s chief economist. “Rates are expected to continue their decline and while potential homebuyers are…

A federal judge in Georgia has temporarily blocked President Biden’s administration from implementing its plan to waive federal student loans for almost 30 million borrowers. U.S. District Judge J. Randal Hall issued the order on Thursday, ruling that the states currently suing the administration over the plan have established a case likely to prove the Department of Education does not have the authority to implement the loan forgiveness. “Plaintiffs show a substantial likelihood of success on the merits given the rule’s lack of statutory authority,” the judge wrote, according to Reuters. GOP-LED STATES SUE BIDEN ADMINISTRATION OVER STUDENT DEBT RELIEF PLAN…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks keep sliding: September is proving to be the rough month we thought it would be. A bruising first week of trading continued Friday after the weaker-than-expected August jobs report kept alive questions about the health of the U.S. economy. The S & P 500 is down about 1.7% Friday and on pace for its fourth consecutive day of declines. Still, it’s worth keeping in mind that the index is still…

Former independent presidential candidate Robert F. Kennedy Jr. will not appear on ballots in North Carolina and Michigan, appeals courts ruled in two separate decisions Friday.Election authorities in the two swing states previously decided that Kennedy’s name would remain on their ballots, rejecting his request to withdraw from the race.Friday’s rulings are good news for Republican presidential nominee Donald Trump. In North Carolina and Michigan, Trump polls better in a two-way race against Democratic nominee Kamala Harris than in a six-candidate race, according to polling averages from RealClearPolling.When Kennedy suspended his long-shot campaign and threw his support behind Trump on…

Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech at the Economic Club of New York on Thursday. Trump claimed the measure would help address housing affordability because a “flood” of people entering the country illegally are pushing up housing costs, but undocumented immigrants only make up a tiny portion of the mortgage market. In 2023, only 5,000 to 6,000 mortgages were made to holders of Individual Tax Identification numbers, according to a recent Urban Institute report. Those who are not legally authorized to work in the US obtain ITINs to file taxes, since…

Bowlero Corp. (NYSE:BOWL) Q4 2024 Results Conference Call September 5, 2024 4:30 PM ET Company Participants Bobby Lavan – Chief Financial OfficerThomas Shannon – Founder, Chairman & Chief Executive OfficerLev Ekster – President Conference Call Participants Steve Wieczynski – StifelMatthew Boss – JPMorganRandy Konik – JefferiesJason Tilchen – Canaccord GenuityJeremy Hamblin – Craig-HallumEric Handler – ROTH CapitalMichael Kupinski – NOBLE Capital MarketsEric Wold – B. Riley SecuritiesDaniel Moore – CJS Securities Operator Ladies and gentlemen, thank you for standing by. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Media scion Shari Redstone is set to receive more than half a billion dollars in severance, stock and benefits from the sale of her family’s empire to the Ellison family. As part of an agreed sale of National Amusements, which controls the media group Paramount through voting stock, Redstone will receive some $180mn in severance and pension benefits, said people familiar with the matter. This is in addition to the sale of her stake in National Amusements, for which she would receive…